Recurrent Investment Advisors LLC Purchases New Stake in PBF Energy Inc. (NYSE:PBF)

Recurrent Investment Advisors LLC bought a new stake in PBF Energy Inc. (NYSE:PBF - Free Report) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 372,078 shares of the oil and gas company's stock, valued at approximately $11,516,000. PBF Energy comprises approximately 1.1% of Recurrent Investment Advisors LLC's investment portfolio, making the stock its 22nd biggest position. Recurrent Investment Advisors LLC owned about 0.32% of PBF Energy as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PBF. Hotchkis & Wiley Capital Management LLC acquired a new position in shares of PBF Energy in the third quarter valued at approximately $10,506,000. Holocene Advisors LP purchased a new stake in PBF Energy in the 3rd quarter worth approximately $2,806,000. Paloma Partners Management Co purchased a new stake in PBF Energy in the 3rd quarter worth approximately $393,000. Point72 Asia Singapore Pte. Ltd. raised its holdings in PBF Energy by 175.4% in the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 16,480 shares of the oil and gas company's stock valued at $510,000 after acquiring an additional 10,496 shares during the last quarter. Finally, Point72 Hong Kong Ltd lifted its stake in shares of PBF Energy by 520.6% during the 3rd quarter. Point72 Hong Kong Ltd now owns 16,700 shares of the oil and gas company's stock worth $517,000 after purchasing an additional 14,009 shares during the period. 96.29% of the stock is currently owned by hedge funds and other institutional investors.

PBF Energy Stock Down 1.6 %

NYSE PBF traded down $0.50 during trading hours on Thursday, hitting $30.81. The company had a trading volume of 1,430,125 shares, compared to its average volume of 2,156,954. The firm's 50 day moving average is $31.47 and its 200 day moving average is $36.79. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.34 and a quick ratio of 0.65. PBF Energy Inc. has a fifty-two week low of $27.94 and a fifty-two week high of $62.88. The company has a market capitalization of $3.55 billion, a price-to-earnings ratio of -11.89 and a beta of 1.57.

PBF Energy (NYSE:PBF - Get Free Report) last posted its earnings results on Thursday, October 31st. The oil and gas company reported ($1.50) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($1.41) by ($0.09). The company had revenue of $8.38 billion during the quarter, compared to analyst estimates of $8.27 billion. PBF Energy had a negative net margin of 0.84% and a negative return on equity of 2.84%. PBF Energy's quarterly revenue was down 21.9% compared to the same quarter last year. During the same quarter last year, the business posted $6.61 EPS. Sell-side analysts anticipate that PBF Energy Inc. will post -2.86 earnings per share for the current fiscal year.

PBF Energy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Wednesday, November 13th were given a dividend of $0.275 per share. This is a boost from PBF Energy's previous quarterly dividend of $0.25. This represents a $1.10 dividend on an annualized basis and a dividend yield of 3.57%. The ex-dividend date was Wednesday, November 13th. PBF Energy's payout ratio is presently -42.47%.

Insider Activity

In other PBF Energy news, insider Control Empresarial De Capital bought 85,000 shares of the company's stock in a transaction dated Tuesday, November 5th. The shares were acquired at an average cost of $28.37 per share, with a total value of $2,411,450.00. Following the completion of the transaction, the insider now owns 26,197,498 shares in the company, valued at $743,223,018.26. The trade was a 0.33 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last three months, insiders bought 3,938,100 shares of company stock worth $122,901,631. 5.30% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on PBF shares. Bank of America assumed coverage on PBF Energy in a research report on Thursday, October 17th. They issued an "underperform" rating and a $25.00 price objective for the company. BMO Capital Markets downgraded shares of PBF Energy from an "outperform" rating to a "market perform" rating and dropped their price objective for the company from $42.00 to $35.00 in a research note on Friday, October 4th. Tudor, Pickering, Holt & Co. cut shares of PBF Energy from a "hold" rating to a "sell" rating in a research report on Monday, September 9th. Wells Fargo & Company dropped their price target on shares of PBF Energy from $51.00 to $39.00 and set an "overweight" rating for the company in a research report on Wednesday, October 9th. Finally, Tudor Pickering raised shares of PBF Energy to a "strong sell" rating in a research note on Monday, September 9th. Five analysts have rated the stock with a sell rating, ten have issued a hold rating and one has given a buy rating to the company. According to data from MarketBeat, PBF Energy has a consensus rating of "Hold" and a consensus target price of $34.18.

PBF Energy Company Profile

PBF Energy Inc, through its subsidiaries, engages in refining and supplying petroleum products. The company operates in two segments, Refining and Logistics. It produces gasoline, ultra-low-sulfur diesel, heating oil, diesel fuel, jet fuel, lubricants, petrochemicals, and asphalt, as well as unbranded transportation fuels, petrochemical feedstocks, blending components, and other petroleum products from crude oil.